Asia benzene reaches new 15-week high on higher-priced deals

SINGAPORE (ICIS)--Spot benzene prices in Asia has hit a new 15-week high, fuelled by higher-priced transaction levels on Wednesday morning, according to market sources.

Two October cargoes were sealed at $1,297-1,300/tonne (€986-988/tonne) FOB (free on board) Korea and 15 November parcels were booked at $1,287-1,300/tonne FOB Korea during the day, they said.

Discussions were dominated by China-based traders and centered around trading on a FOB Korea basis in the morning session, in view of possible gains in the key Chinese domestic market, according to market sources.